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Redevelopment authority establishes TIF District 30 to support US Bank building conversion
Summary
The Redevelopment Authority approved a resolution creating Tax Increment Financing District No. 30 in downtown Green Bay to support conversion of the former US Bank tower into 66 market-rate apartments with first-floor commercial use, using a pay-as-you-go incentive capped at $7 million.
The Redevelopment Authority of the City of Green Bay on a unanimous voice vote approved a resolution establishing Tax Increment Financing (TIF) District No. 30 to support conversion of the former US Bank building at 425 Pine Street into 66 market-rate apartments above first-floor commercial space.
Rebecca, a city redevelopment staff member, told the authority the proposal is a “rehabilitation or conservation” TIF and that the project would convert floors two through seven to 66 market-rate rental units while keeping the first floor as commercial space. She said the developer’s…
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